Also, look to work with Private Lenders on the acquisitions, fund the rehab, and then refinance within 12 months to get better CoC (Cash on Cash) returns!

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@Maxwell Hinesshort term - BRRRR method, for example.buy with cash or hard money, rehab with HELOC money, then refinance and pay it all back.you never want a HELOC as part of a long term situation.

I have done this a few times myself and have a few basic recommendations:1) Make sure the seller owns the property free and clear and that it's very clear to both parties whether the arrangement involves a deed of trust or contract for deed2) If a balloon payment is involved, be sure to assess your ability to refinance and make that balloon payment in the future- optional extensions can help manage this risk3) Understand the tax implications if the interest rate is notably above or below market rates4) Get title insurance! 

This allows you to hit the high season at full speed and like you said, refinance your payment as rates soften next year! 

My advice would be to do a cash out refinance and pull some cash out now that rates are dropping back to normal. 

Having an attorney review and refine the lease agreement now could save you from potential issues down the road.

Technically once the transfer is completed the lender has the right to call the loan which would require you to refinance.

You may think its great because payments are getting returned - but then you realize you cannot get the mortgage off title and satisfy it if you ever go to refinance.

This setup will lead to higher tax prep fees and if you refinance these properties the IRS will consider this selling the property and you will have pay taxes at the end of the year on a property you didn't actually sell.I recommend finding an accountant who specializes in real estate taxation and tax planning and set up a paid consultation before you do anything.